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Reperting Discontinued Operatiens-ouposal in Subsequent Year On October 1 of the current yeac, Blain Company approved a formal plan to sel the Mckay Divion, conadered a component of the business, The sale will occur on March 31 of the folicwing year. The division had eperating income of s800,000 igretano for the year ended December 31, but eupects to incur an operating ioss of 5160000 for the first quarter of next year. Bilain determines the caryink. velue and far value fnet of selling costs) of the Mckay Divsien to be 38,000,000 and $7,680,000, respectively, on Bectember 31 , plains tax rate for the year is 24%. Weighted average namber of tommon sharts outsanding in the current year is 500,000 Required a. Assurne blan Companys income from continung opefations is 53,660005 (after tax) in the curentyear. Frepare a partial income statement beginiing with intome from continung operabori. Inctude tarnings per share disclasures - Use a negatve sign to indeate a loss - Enter the answers for per thare amounts in dolars and cents, rounded to the neasest penny. b. How does the answer to part a change if the fair value of the Mckay Division's net assets were $8,320,000 instead of $7,680,000 on December 31 ? - Use a negative sign to indicate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny

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